FINANCIAL

STATEMENTS

For the 3rd quarter ended Mar 31,

2018

Chenab�

LIMITED

Contents

Company Information

02

Director's Report to the Member s

03

Direct or' s Report in Urdu

04

Balance Sheet

05

Profit & Loss Account

06

Statement of Comprehensive Income

06

Cash Flow Statement

07

Statement of Changing in Equity

08

Notes to the Financial Statement

09

Company Information

Chairman

Chief Executive

Directors

Nominee Director

Major Bankers

Chief Financial Officer

Company Secretary

Auditors

Shares Registrar

Registered Office

Website Address

Works

Mian Muhammad Latif

Mr. Muhammad Naeem

Mian Muhammad Javaid Iqbal

Mr. Muhammad Faisal Latif

Mr. Tariq Ayoub Khan

Mr. Masood Ul Hassan

Mr. Muhammad Hashim

Mr. Muhammad Salman Javed

Mrs. Sobia Chughtai

Allied Bank Limited.

Askari Bank Limited.

Al Baraka Bank (Pakistan) Limited.

Citibank, N.A.

Faysal Bank Limited.

First Credit & Investment Bank Limited.

Habib Bank Limited.

Habib Metropolitan Bank Limited.

KASB Bank Limited.

National Bank of Pakistan.

NIB Bank Limited.

Orix Leasing (Pakistan) Limited.

Pak Oman Investment Company Limited.

Pak Kuwait Investment Company (Pvt.) Limited.

Pak Libya Holding Company (Pvt.) Limited.

Saudi Pak Industrial & Agricultural Investment

Silk Bank Limited.

Standard Chartered Bank (Pakistan) Limited.

The Bank of Punjab.

United Bank Limited.

Mr. Faisal Ali Sarwar

Muhammad Arshad

Yousuf Adil

Chartered Accountants.

F.D. Registrar Services (SMC-Pvt.) Limited

Office # 1705, 17th Floor, Saima Trade

Tower-A, I.I. Chundrigar Road, Karachi.

Tel:021-32271905-6/021-35478192-3

Nishatabad, Faisalabad. Tel:+92 41 8754472-8 Fax:+92 41 8752400, 8752700 chenab@chenabgroup.comwww.chenabgroup.com

-Spinning Unit

- Toba Tek Singh.

-Weaving Unit

- Kharianwala, Distt: Sheikhupura.

-Weaving Unit

- Shahkot, Distt: Nankana Sahib.

-Processing & Stitching Units - Nishatabad, Fsd.

DIRECTORS' REPORT TO THE SHAREHOLDER'S

The Directors are presenting before you un-audited financial statements of the Company together with notes for nine months period ended on March 31, 2018. Figures of corresponding quarter of last year are also presented for comparison. The balance sheet figures as on March 31, 2018 and June 30, 2017 have been shown as required by the international Accounting standards (IAS) 34 for interim financial reporting.

SALES AND SERVICES REVENUE

Sales and Services Revenue of Rs.710.068 million was earned as compared with the Sales and Services revenue of Rs.1442.866 million during the same period of the preceding period.

FINANCIAL RESULTS

In view of unfavorable business circumstances the Company has sustained a financial loss of Rs.175.549 million before taxation.

FUTURE PROSPECTS

The management got re-structuring done with banks through a Scheme of Arrangement on 14-09-2021. The winding up order passed by the Lahore High Court also got reversed on 29-10-2021. The management took over the charge and Company has restarted its commercial operations from December 1, 2021.

The management is also pursuing to dispose off certain non core fixed assets of the Company to meet the requirement of working capital.

ACKNOWLEDGEMENT

The directors are thankful to its financial institutions for supporting the Company for revival of the Company and its employees who have rendered their dedicated services for the Company

For and on behalf of

BOARD OF DIRECTORS

FAISALABAD

(MUHAMMAD FAISAL LATIF)

(MUHAMMAD NAEEM)

22-06-2023

(DIRECTOR)

CHIEF EXECUTIVE OFFICER

• • 1,C:✓' , , 'J,I' '

22-06-2023

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Chenab Ltd. published this content on 23 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 June 2023 04:52:06 UTC.